Aug. 03, 2022
August 3, 2022 Similar to proposal \"SR-OCC-2022-803\", \"SR-OCC-2022-802\" provides a bureau of the US Treasury, the OCC, with near limitless latitude to raise cash in the event of a defaulting member. What is the reason behind this change? Why now? The OCC has an obligation to manage the risk of its participants and the investments traded through the OCC. At no point, should a financial contagion scenario be allowed to ensnare others, rather it should be absorbed by those government agencies and participating members who knowingly engaged in a shared default agreement. Please strike down this proposal, as it appears to give wide freedom to socialize losses in the options market that should be absorbed by participating members (and no others). Best, Chance Furgerson